The following table presents the Company’s purchased intangible assets as of December 31, 2019 (in thousands):

	Gross Intangibles		Accumulated Amortization			Net Intangibles		Weighted Average Amortization Period (years)
Intangible assets subject to amortization:
Customer relationships	$	191,171	$	(121,074	)	$	70,097		10
Trade names and trademarks		19,380		(12,929	)		6,451		8
Non-compete agreements		2,769		(2,181	)		588		3
Content library		506		(506	)		—		2
Proprietary software		870		(695	)		175		5
Intangible assets not subject to amortization:
Domain names		81,109		—			81,109	N/A
	$	295,805	$	(137,385	)	$	158,420		5

The following table presents the Company’s purchased intangible assets as of December 31, 2018 (in thousands):

	Gross Intangibles		Accumulated Amortization			Net Intangibles		Weighted Average Amortization Period (years)
Intangible assets subject to amortization:
Customer relationships	$	189,697	$	(106,502	)	$	83,195		10
Trade names and trademarks		19,236		(10,594	)		8,642		8
Non-compete agreements		2,746		(1,724	)		1,022		3
Content library		517		(517	)		—		2
Proprietary software		1,040		(725	)		315		4
Intangible assets not subject to amortization:
Domain names		80,857		—			80,857	N/A
	$	294,093	$	(120,062	)	$	174,031		5

The Company’s estimated future amortization expense for the succeeding years relating to the purchased intangible assets resulting from acquisitions completed prior to December 31, 2019, is as follows (in thousands):

Changes in goodwill for the year ended December 31, 2019 consisted of the following (in thousands):

	January 1, 2019		Acquisition- Related ⁽¹⁾		Effect of Foreign Currency		December 31, 2019
Americas	$	255,436	$	1,202	$	3,315	$	259,953
EMEA		47,081		2,421		1,792		51,294
	$	302,517	$	3,623	$	5,107	$	311,247

Changes in goodwill for the year ended December 31, 2018 consisted of the following (in thousands):

	January 1, 2018		Acquisition- Related ⁽¹⁾		Effect of Foreign Currency			December 31, 2018
Americas	$	258,496	$	2,175	$	(5,235	)	$	255,436
EMEA		10,769		36,361		(49	)		47,081
	$	269,265	$	38,536	$	(5,284	)	$	302,517

The Company performs its annual goodwill impairment test during the third quarter, or more frequently if indicators of impairment exist.

For the annual goodwill impairment test, the Company elected to forgo the option to first assess qualitative factors and performed its annual quantitative goodwill impairment test as of July 31, 2019. Under ASC 350, the carrying value of assets is calculated at the reporting unit level. The quantitative assessment of goodwill includes comparing a reporting unit’s calculated fair value to its carrying value. The calculation of fair value requires significant judgments including estimation of future cash flows, which is dependent on internal forecasts, estimation of the projected long-term growth rate and determination of the Company’s weighted average cost of capital. Changes in these estimates and assumptions could materially affect the determination of fair value and/or conclusions on goodwill impairment for each reporting unit. If the fair value of the reporting unit is less than its carrying value, goodwill is considered impaired and an impairment loss is recognized for the amount by which the carrying value exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit.

The process of evaluating the fair value of the reporting units is highly subjective and requires significant judgment and estimates as the reporting units operate in a number of markets and geographical regions. The Company considered the income and market approaches to determine its best estimates of fair value, which incorporated the following significant assumptions:

As of July 31, 2019, the Company had eight reporting units, seven of which have goodwill. The Company concluded that goodwill was not impaired for all seven of its reporting units with goodwill, based on generally accepted valuation techniques and the significant assumptions outlined above. The fair values of three of the seven reporting units were substantially in excess of their carrying value. The Clearlink, Symphony, Latin America and Qelp reporting units’ fair values exceeded the respective carrying values, although the fair value cushion was not substantial. The decrease in the Clearlink reporting unit’s cushion from the prior year was primarily attributable to a decrease in the projected long-term growth rate of the U.S. Gross Domestic Product as well as a decline in projected

revenue growth. The decrease in the cushion from the prior year for the Latin America and Qelp reporting units was primarily attributable to an increase in the country-specific risk premiums which increased the applied weighted average cost of capital. Symphony was acquired by the Company in November 2018.

The Clearlink, Symphony, Latin America and Qelp reporting units are at risk of future impairment if projected operating results are not met or other inputs into the fair value measurement model change. As of December 31, 2019, the Company believes there were no indicators of impairment related to Clearlink’s $74.2 million of goodwill, Symphony’s $41.3 million of goodwill, Latin America’s $19.5 million of goodwill and Qelp’s $10.0 million of goodwill.